$SPY $SPX Analysis, Key levels, and Targets

$SPY $SPX Analysis, Key levels, and Targets

Ok, so 373 was hit (target 1) and then a small pullback…. So now we need to get back into the green box… and above the 35EMA (currently 376.50) and then test that smaller downtrend line (blue dashed line) and monthly 35EMA at 383… There is definitely a lot of hurdles in the way but there’s also a lot of possible steam for a move up…. Get above those levels and I think a run to 397 Is possible….

4hr macD is actually supporting a move higher…
200MA is still right there…. (359.79)
Believe it or not on the Monthly chart we bounced off of the 50MMA which is pretty neat, makes me think that we see the handle of an inverted cup and handle, maybe, on that time frame… a handle there could bring this up to around the 497 level as well….

My short calls expired worthless today so I took the entire 1.02 on today’s expiration, and I sold 375 short calls for Friday at 1.00

It's possible that we keep moving sideways along the 200 Weekly MA for a while... and if that's the case then the premium selling should still be really good for a while with all of the back and forth choppiness... I fell like that's where I've been doing a lot of the scalping...

I still have my 350 calls in Jan and shares at 360… LOL…